Free Motion to Stay - District Court of Arizona - Arizona

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PLLC 1423 S. HIGLEY RD., SUITE 110 MESA, ARIZONA 85206 TELEPHONE: (480) 633-8100 FACSIMILE: (480) 633-8488 E-MAIL: [email protected] BRIAN A. HATCH, SBN 13864 ATTORNEY FOR BARRY T. JORDAN

BRIAN A. HATCH

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA ) ) ) Plaintiff, ) ) vs. ) ) ) Ronald Stephen Holt; and International Funding ) Association, ) Defendants, ) ) ) and ) ) Annette Holt; American Assets Limited Trust; ) Leonora Street Trust; Dover Childrens Trust; ) Clarendon Avenue Holding Trust; Dublin Holding ) Trust; Jeffery Williams (aka Jeffrey Williams); ) Mari Ann Alston; Pacific Central Asset ) ) Management; and American Benefit Card ) Services, Inc. ) ) Defendants Solely for ) Purposes of Equitable Relief ) _________________________________________ Securities and Exchange Commission,

Cause No.: CV 03-1825 PHX PGR

MOTION FOR STAY REGARDING PETITION NO. 24 PETITION FOR INSTRUCTIONS REGARDING PROPERTY LOCATED AT 10620 NORTH 84TH STREET, SCOTTSDALE, ARIZONA

(Oral Argument Requested)

Comes now Respondent Barry T. Jordan, through his counsel undersigned and Pursuant to Rules 62(b) of the Federal Rules of Civil Procedure, moves for a stay of all proceedings to enforce or execute upon the Order Re: Petition No. 24 ("Judgment") signed by the Court on February 6, 2007 and filed by the Clerk on February 8, 2007 in the above

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captioned action. This Motion is supported by the following Memorandum of Points and Authorities, and all other matters of record. MEMORANDUM OF POINTS AND AUTHORITIES Rule 62(b) provides that "[i]n its discretion and on such conditions for the security of the adverse party as are proper, the court may stay the execution of or any proceedings to enforce a judgment pending the disposition of a motion for new trial or to alter or amend a judgment made pursuant to Rule 59 ... ." As explained in International Wood Processors v. Power Dry, Inc., 102 F.R.D. 212 (D.S.C. 1984): "This rule does not further specify what conditions are "proper." The standards of former Fed.R.Civ.P. 73(d), which continue to provide guidance on appropriate security under Fed.R.Civ.P. 62(d) and which required that a supersedeas bond cover, inter alia, the whole amount of the judgment, interest and damages for delay, ... does not apply to "proper" conditions of security for a stay pending disposition of post-trial motions under Rule 62(b). Unlike the stay pending appeal under Rule 62(d), a stay pending disposition of a motion for ... new trial will generally be resolved in far less time than the lengthy process ... which an appeal entails. Consequently, the risk of an adverse change in the status quo is less when comparing adequate security pending post-trial motions with adequate security pending appeal. It is also significant that prior to an appeal the district court has plenary power to alter, amend or reopen the judgment and grant a new trial or enter a directed verdict." Id. at 215. The instant case concerns Petition No. 24 filed by the Receiver seeking instruction as to disposition of the residential property located on North 84th Street in Scottsdale, Arizona (the "Property"). The Court granted the Petition and ordered that Respondent Barry Jordan vacate the 84th Street Property; that the Receiver prepare the Property for sale; sell the Property; and thereafter distribute the proceeds of the sale per the Order Re: Petition No. 24 ("Judgment") signed by the Court on February 6, 2007, and filed by the Clerk on February 8, 2007. Respondent has filed on even date herewith a Motion for New Trial and/or to Alter or Amend Judgment.

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Early on in this receivership matter, the Receiver filed a notice of Lis Pendens which covers the Property, and which has prevented Respondent from dealing with the Property. The Lis Pendens remains in place and functions as a lien in favor of the Receiver, and prevents the Respondent from taking action adverse to the interest of the Receiver. Given that the Judgment provides not for a monetary judgment, but for sale of the Property and disbursement of the sale proceeds, the existing Lis Pendens is a proper and sufficient condition of security under Rule 62(b) pending the disposition of the Motion for New Trial and/or to Alter or Amend Judgment. WHEREFORE, Respondent Barry T. Jordan respectfully requests this Court enter an order staying all proceedings to enforce or execute upon the Order Re: Petition No. 24 ("Judgment"), pending the disposition of Respondent's Motion for New Trial and/or to Alter or Amend Judgment filed on even date herewith.

Respectfully submitted this 22nd day of February, 2007.

BRIAN A. HATCH PLLC s/Brian A. Hatch By: Brian A. Hatch, Attorney for Respondent Barry T. Jordan

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PROOF OF SERVICE This is to certify that on this 22nd day of February, 2007, the foregoing document was electronically transmitted to the Clerk's Office using the CM/ECF System for filing, and that

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a Notice of Electronic Filing was transmitted to the CM/ECF registrants on the attached Master Service List; and that a copy of the foregoing document was served by first class mail on the 23rd day of February, 2007 on those persons listed below, and on those persons listed on the attached Master Service List who are not registered participants of the CM/ECF System.

Noily Cope 5128 E. Whitton Avenue Phoenix, AZ 85018

s/Brian A. Hatch Brian A. Hatch

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MASTER SERVICE LIST SEC vs. Ronald Stephen Holt, et al. United States District Court for the District of Arizona CV 03-1825 PHX PGR

Lawrence J. Warfield International Funding 14555 North Scottsdale Road, #340 Scottsdale, AZ 85254 Receiver Patrick M. Murphy Guittilla & Murphy, P.C. 4150 West Northern Avenue Phoenix, Arizona 85051 Registered CM/ECF: [email protected] Counsel for Receiver Marshall M. Gandy Securities and Exchange Commission 801 Cherry Street, Suite 1900 Fort Worth, Texas 76102 Registered CM/ECF: [email protected] Counsel for SEC Merwin D. Grant Grant & Vaughn, P.C. 6225 North 24th Street Suite 125 Phoenix, Arizona 85016 Registered CM/ECF: [email protected] Attorney for Relief Defendant Annette Holt

Ronald Stephen Holt and International Funding, Leonora Street Trust, Dover Children's Trust, Clarendon Avenue Holding Trust, Dublin Holding Trust, Pacific Central Asset Management, American Benefit Card Services, Inc.,

Robert L. Stanford Jeffery Williams aka Jeffrey Williams 8415 W. Alex Avenue Peoria, Arizona 85382 Relief Defendant American Assets Limited Trust c/o Registered Agent Michael Bloomquist 4410 W. Union Hills #7-233 Glendale, Arizona 85308 Relief Defendant Mari Ann Alston 305 Nordina Street Redlands, California 92373 Relief Defendant

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James Vaughn 100 South Antietam Place Tucson, Arizona 85710 Suzanne Ingold Burch & Cracchiolo, P.A. 702 E. Osborn Road #200 P.O. Box 16882 Phoenix, Arizona 85014-5281 Timothy J. Mulreany Commodity Futures Trading Commission Division of Enforcement 1155 21st Street, N.W. Washington, D.C. 20581 Thomas M. Connelly 2425 East Camelback Road Suite 880 Phoenix, Arizona 85016-4208 Michael S. Reeves Attorney at Law 1212 E. Osborn Phoenix, Arizona 85014-5533 Registered CM/ECF: [email protected] Attorney for Defendant Ronald S. Holt

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